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QuickBooks File Evaluation
Here of some of the things I look for when doing a QuickBooks File Evaluation:

  • Are your reconciliations current?
  • Are there uncleared payments and deposits?
  • Are there unapplied payments or credits?
  • Is there a balance in undeposited funds?
  • Are there small amounts posted to your fixed asset accounts?
  • Is inventory allowed to go negative?
  • Is inventory being recorded correctly?
  • Are there any negative asset accounts other than accumulated depreciation and amortization?
  • Are there any negative liability accounts?
  • Are bills being paid correctly with a check?
  • Are sales tax liability payments being paid correctly and reflecting proper balances?
  • Are equity accounts structured correctly?
  • Is the opening balance equity account zero?
  • Do your balances in QuickBooks tie to your tax return?
  • Were there changes made to closed periods?
  • Are they any large fluctuations?
  • Is the chart of accounts set up appropriate for your business?
  • Are items such as service, inventory, sales tax and payroll set up properly?
  • Does anything look unusual on the balance sheet or profit and loss?
  • Are transactions being allocated correctly to the proper general ledger accounts?
  • Are closing dates being set?

I offer quick reviews, full reviews and monthly reviews. I can also customize the review and look only at areas you feel may be inaccurate.

Once the evaluation is complete, I provide you with a report package with comments and recommendations. If there are problem areas the next step is troubleshooting and clean up.